Skip to Content
Uncategorized

Safer Credit

On a trip to Europe, Ed Kelley found that his calling card had stopped working; thieves had stolen the number and run up huge charges. Frustrated with the lack of security on calling cards and credit cards, Kelley, a group leader for IBM Global Services, sat down with IBM engineer Franco Motika to create a solution. The pair designed a card with a novel feature: a tiny keypad. When the owner first receives the card, he or she must choose and input a PIN that is “burned” into the card’s circuitry-making it much more secure than a PIN stored in computer memory. To use the card, the holder enters the PIN on the card itself; this causes a “smart card” chip to generate a unique transaction number good for only one time. This number would be sent to the credit card company, where a computer would compare it to the output of an algorithm specific to that card. Only if the two matched would the transaction be approved. “With this card, somebody could have your credit card number, and it would do them absolutely no good whatsoever,” Kelley says.

Keep Reading

Most Popular

individual aging affects covid outcomes concept
individual aging affects covid outcomes concept

Anti-aging drugs are being tested as a way to treat covid

Drugs that rejuvenate our immune systems and make us biologically younger could help protect us from the disease’s worst effects.

close up of baby with a bottle
close up of baby with a bottle

The baby formula shortage has birthed a shady online marketplace

Desperate parents just want to feed their babies. They’re having to contend with misinformation, price gouging, and scams along the way.

"Olive Garden" NFTs concept
"Olive Garden" NFTs concept

I tried to buy an Olive Garden NFT. All I got was heartburn.

Our newest issue spells out what you need to know about the dizzying world of digital money.

Stay connected

Illustration by Rose WongIllustration by Rose Wong

Get the latest updates from
MIT Technology Review

Discover special offers, top stories, upcoming events, and more.

Thank you for submitting your email!

Explore more newsletters

It looks like something went wrong.

We’re having trouble saving your preferences. Try refreshing this page and updating them one more time. If you continue to get this message, reach out to us at customer-service@technologyreview.com with a list of newsletters you’d like to receive.